Adam,
Don't miss this month's issue of the Parameter; March Madness Edition!
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Luncheon: March 26, 2013:Extracting information from text in the financial markets |
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March 26, 2013
Extracting information from
text in the financial markets
Nitish Ranjan Sinha
Assistant Professor of Finance
University of Illinois at Chicago
Noon - 1:30 PM
The East Bank Club
500 N. Kingsbury, Chicago 60610
Abstract:
In this presentation, Professor Sinha discusses an analysis he conducted where he extracted the text from over 2 million news articles on a Reuters terminal. He was then able to show that complex information is not immediately impounded into prices. The paper also shows that simple (but widely prevalent) ways of obtaining information from text are error-prone.
Lunch is $30 for CCASA members, $35 for non-members, and $10 for students. Non-members, join the chapter for a year for only $15 and get the discount plus all of the other benefits of membership!
As usual, the Lucile Derrick Fund will purchase a limited number of tickets for student members of CCASA who wish to attend. If you are a student and would like to take advantage of this offer, please register online below, and contact Gerald Funk, expressing your interest 773-508-3561 or gfunk@luc.edu
Questions: Call Gerald Funk 708-957-1923 for more information
Reduced fee parking available at EBC with validation.
Please register here for the luncheon by Friday March 22, 2013
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Save The Date! May 9th: Statistical Advocate of the Year Award |
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Mark the date on your calendars; May 9th 2013. The Chicago ASA will be presenting Roger Hoerl the 2013 Statistical Adocate of the Year Award!!!
The location and event details will be provided ASAP.
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Workshop: Probability Models for Customer Analytics |
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Peter S. Fader, Wharton School, University of Pennsylvania
Bruce Hardie, London Business School
Friday, April 26, 2013
8:30 am - 4:30 pm
The Feinberg School of Medicine, Northwestern University
680 North Lake Shore Drive, Suite 1400, Chicago, IL 60611
Sponsored by the Chicago Chapter of the American Statistical Association
http://www.chicagoasa.org/
Course Description:
Central to a complete understanding of today's leading-edge customer analytics techniques is a sound intuitive appreciation of the basic behavioral and methodological foundations upon which these sophisticated tools are built. For example, emerging "hot topics" such as hierarchical Bayes models and hidden Markov processes are often built on simple probability modeling concepts (e.g., Poisson counts, Bernoulli "coin flips," and exponential interpurchase times) - yet how many researchers are comfortable at precisely defining these concepts or explaining the motivation for using them?
This workshop aims to fill in these gaps by bringing practitioners fully up to speed on the basic methods that may underlie many of their current or future research activities. Our two broad objectives are: (1) to review the essential terminology and logic associated with the area of probability models as applied to customer analytics, and (2) to develop participants' skills through a set of data-oriented case studies that demonstrate the model-building process in detail. We will illustrate all of the steps required to develop a probability model, estimate its parameters, interpret the results, and draw appropriate managerial conclusions from it. Careful and extensive use is made of the Solver tool in Microsoft Excel, which makes it possible to construct all of these models within a familiar spreadsheet environment. By the end of the tutorial, participants should be quite comfortable with all of the aforementioned principles and models and the managerial issues that surround them.
This program will benefit all analytics professionals - as well as more senior managers who want to gain a firmer grip on these concepts and methods. The material is somewhat technical, so some basic aptitude with probability/statistics would be beneficial for participants. For instance, it helps (but is by no means required) to have a little familiarity with basic probability distributions (such as the Poisson and the binomial), even if the details are largely forgotten. Similarly, participants should be comfortable with Microsoft Excel, although there is no need for any advanced capabilities (we will rely exclusively on ordinary "built-in" Excel functions). Finally, participants may wish to bring a laptop to follow along with the model-building exercises, but it is not required. All we ask from each participant is to bring an open mind, a sharp pencil and a high level of interest in customer analytics. All materials presented (including the detailed spreadsheets) will be made available to all participants immediately after the seminar.
Registration Fees
Member $200
Non-member $250
Student $50
The Chicago Chapter accepts payment by Visa or Mastercard. For more information or to register, please visit here:
Speaker Backgrounds:
Peter S. Fader is the Frances and Pei-Yuan Chia Professor of Marketing at the Wharton School of the University of Pennsylvania and Co-Director of the Wharton Customer Analytics Initiative. Peter's research interests include: customer lifetime value; sales forecasting for new products; and using behavioral data to understand and forecast purchase activities across a wide range of industries. Peter has received many awards and honors, including the David Hardin Award for the best paper published in Marketing Research magazine, the Paul E. Green Award for the best article published in the Journal of Marketing Research, and the best paper award at the American Marketing Association's Advanced Research Techniques Forum.
Bruce G.S. Hardie is Professor of Marketing at the London Business School. Bruce's primary research interest is in the development of data-based models to support marketing analysts and decision makers, with a particular interest in models that are easy to implement. Bruce has published papers in the areas of applied probability models, customer-based analysis, and customer analytics.
This workshop is likely to sell out fast, so register now!
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The ASA Year of Statistics Featured in the Huffington Post! |
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American Statistical Association President Marie Davidian has been featured in a recent article in the Huffington Post discussing the 2013 Year of Statistics!
In the article, Davidian discusses the many ways that statistics are changing our lives. Further, she touches on many of the ways that the field is evolving and the ASA's 2013 campaign to promote the Year of Statistics.
Read the full article
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Use Statistics to Get an Edge in the Office Pool |
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Check out the ASA blog for the latest news on the International Year of Statistics |
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Three Great Positions from Leo Burnett! |
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The Leo Burnett Group is looking to fill three great positions:
♦ Analyst, Advanced Analytics
The responsibilities of an Analyst in Modeling, Segmentation, and Forecasting are focused on predictive and/or forecast model development, data analytics, and consumer segmentation.
♦ Manager, Advanced Analytics
The responsibilities of a Manager in Modeling, Segmentation and Forecasting are focused on data analytics, predictive model development, and consumer database segmentation in support of Client business.
♦ Analyst, Optimization (Web | Social Media Analytics)
The Optimization Practice works in partnership with Clients as well as other Agency counterparts (e.g., Account Management, Planning, Creative, Production) to seamlessly integrate CRM marketing communication into all aspects of the marketing plan.
For more information, position requirements and instructions on how to apply, please visit the Chicago ASA Website Jobs Page here.
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